|
Jeff, I believe that using a clearing account is your best choice. The alternative is to make no G/L entry for the IS transaction and debit WIP / credit Inventory for the IX transaction. This method is correct from an accounting viewpoint and it avoids the "standard cost change" problem discussed previously. But, it means that your G/L balances will be out of synch with IM. If you use uncontrolled floor stock for low cost items the difference might be so small that it is not a concern. If you go down the single entry path, you must: a.. Use the Item Accounting Class or the Item Number to identify uncontrolled floor stock items to the G/L interface. b.. Define rules so that the G/L interface debits and credits the same account when it processes an uncontrolled floor stock item. Bob Tenney Bob Tenney Solutions, LLC MAPICS - FRx - Presence - Crystal Reports 828-526-8976 Visit www.tenneypubs.com for books about IFM, COM, G/L Interfaces Info WorkPlace, Cost Accounting, FRx, and PRESENCE ----- Original Message ----- From: "Jeff Snyder" <jeffreygsnyder@xxxxxxxxxxx> To: <mapics-l@xxxxxxxxxxxx> Sent: Thursday, August 07, 2003 12:21 PM Subject: Re: balancing G/L to Inventory > Thanks Bob, hoping you would reply > > > > Do you agree with the IS of uncntrl F/S performing a CR to WH Inv > > and a DR to Uncntrl F/S account. > > > > then having the IX perform the CR to Uncntrl F/S > > and a DR to the WIP account > > > > Thanks again > > > > Jeff Snyder, CPIM > > Mapics Consultant > > From: "Bob Tenney" <BOBTENNEY@xxxxxxxxxxxxx> > Reply-To: MAPICS ERP System Discussion <MAPICS-L@xxxxxxxxxxxx> > To: "MAPICS ERP System Discussion" <MAPICS-L@xxxxxxxxxxxx> > Subject: Re: balancing G/L to Inventory > Date: Wed, 6 Aug 2003 18:24:18 -0400 > Jeff, When you move inventory from a warehouse to uncontrolled floor stock > it is a non-event from an accounting viewpoint because the items have not > been transformed in any way--only their physical location has been > changed. > Uncontrolled floor stock is, by definition, uncontrolled and MAPICS does > not track its physical balances once you issue the IS transaction. This > means that there is no way to reconcile the G/L balances to physical > inventory other than manually counting the uncontrolled floor stock on the > floor. > If there are significant increases in your standard costs, it is possible > for your floor stock clearing account to have a negative balance because > the unit cost for the IX transaction is greater than the unit cost for the > preceding IS transaction. > The bottom line is that there are only two things that you can do in this > situation: > a.. Make sure that uncontrolled floor stock is only used for low value > items so the exposure from not being able to track them is minimal. > b.. Classify high value items as controlled floor stock so they can be > tracked from a MAPICS work in process area. > Bob Tenney > Bob Tenney Solutions, LLC > MAPICS - FRx - Presence - Crystal Reports > 828-526-8976 > Visit www.tenneypubs.com for books about > IFM, COM, G/L Interfaces > Info WorkPlace, Cost Accounting, > FRx, and PRESENCE > ----- Original Message ----- > From: "Jeff Snyder" <JEFFREYGSNYDER@xxxxxxxxxxx> > To: <MAPICS-L@xxxxxxxxxxxx> > Cc: <ROBERT_ZAMPOGNA@xxxxxxx>; <BOB.TENNEY@xxxxxxxxxxxxx> > Sent: Tuesday, August 05, 2003 4:24 PM > Subject: balancing G/L to Inventory > > hey guys - looking for help, advise here. > > > > we would like to interface IM to GL. > > > > issues is with Uncontrolled Floor stock > > > > If we book the 'IS' misc issue, (reduces INV onhand, one sided) > > but in G/L cr - Inv dr - flr stk inv > > > > and book the 'IX' (when MO opens an IX is generated, along with > > applying $$ to MO) as a cr to this flr stock acct and dr WIP. > > > > We will have our WIP in sync with G/L > > > > ?? is How do we reconcile this G/L acct (Flf stk) with reality ?? > > > > (There is no Onhand at this point in mapics ) > > > > we are afraid this account will grow over time . > > > > Any advise would help > > > > Jeff Snyder, CPIM > > Mapics Consultant > > > > ---------------------------------------------------------------------- > > > > MSN 8 with e-mail virus protection service: 2 months FREE* > > _______________________________________________ > > This is the MAPICS ERP System Discussion (MAPICS-L) mailing list > > To post a message email: MAPICS-L@xxxxxxxxxxxx > > To subscribe, unsubscribe, or change list options, > > visit: http://lists.midrange.com/mailman/listinfo/mapics-l > > or email: MAPICS-L-request@xxxxxxxxxxxx > > Before posting, please take a moment to review the archives > > at http://archive.midrange.com/mapics-l. > > > > > _______________________________________________ > This is the MAPICS ERP System Discussion (MAPICS-L) mailing list > To post a message email: MAPICS-L@xxxxxxxxxxxx > To subscribe, unsubscribe, or change list options, > visit: http://lists.midrange.com/mailman/listinfo/mapics-l > or email: MAPICS-L-request@xxxxxxxxxxxx > Before posting, please take a moment to review the archives > at http://archive.midrange.com/mapics-l. > > ---------------------------------------------------------------------- > > Add photos to your messages with MSN 8. Get 2 months FREE*. > _______________________________________________ > This is the MAPICS ERP System Discussion (MAPICS-L) mailing list > To post a message email: MAPICS-L@xxxxxxxxxxxx > To subscribe, unsubscribe, or change list options, > visit: http://lists.midrange.com/mailman/listinfo/mapics-l > or email: MAPICS-L-request@xxxxxxxxxxxx > Before posting, please take a moment to review the archives > at http://archive.midrange.com/mapics-l. > >
As an Amazon Associate we earn from qualifying purchases.
This mailing list archive is Copyright 1997-2024 by midrange.com and David Gibbs as a compilation work. Use of the archive is restricted to research of a business or technical nature. Any other uses are prohibited. Full details are available on our policy page. If you have questions about this, please contact [javascript protected email address].
Operating expenses for this site are earned using the Amazon Associate program and Google Adsense.